Mexico
Mexico’s peso is 10% overvalued, says Bank of America, advising short positions versus the euro. Risks include US remittance tax proposals and looming rate cuts.
May 22, 2025
Mexico’s peso is 10% overvalued, says Bank of America, advising short positions versus the euro. Risks include US remittance tax proposals and looming rate cuts.
Colombia launched its 2025 debt management program, swapping COP 2.8 trn in TES bonds due in 2025–26 for 2029 maturities. Demand totaled COP 4.7 trn.
Bank of Jamaica cut its policy rate by 25 bps to 5.75% amid stable inflation and improved FX conditions. April headline inflation held at 5.3%,
Argentina disappointed farmers by increasing the soy export tax by ~7 percentage points after previously pledging cuts. Though rural support for President Milei remains, the
South Africa’s finance minister presented a budget focused on consolidation, cutting spending and forecasting slower growth while keeping debt on a sustainable path. The budget
South Africa’s April inflation ticked up to 2.8% YoY from 2.7% in March, driven by housing and utilities. Core inflation eased to 3.0%—the lowest since
Senegal secured EUR 2 bln in financing from the International Islamic Trade Finance Corp. under a 2025–2030 framework to support energy, agriculture, healthcare, and SME
Nigeria’s top opposition figures—Atiku Abubakar, Peter Obi, and Nasir El-Rufai—have united under the African Democratic Congress ahead of 2027 elections. Internal disagreements on candidacy may
Ghana’s central bank flagged inflation risks tied to food supply and external shocks, despite improved FX reserves and cedi appreciation. Governor Asiama said the bank
Egypt secured EUR 4 bln in loans from the European Parliament, building on a EUR 1 bln package in late 2024, to support macroeconomic stability
Congo DR’s cobalt export ban, imposed in February to boost prices, exposed China’s grip on the sector. CMOC, the world’s top cobalt producer, was blindsided
Angola’s central bank held its benchmark rate at 19.5% for the sixth consecutive time, citing inflation moderation. Year-end CPI target of 17.5% may be revised
Algeria secured a USD 3 bln financing deal from the Islamic Development Bank to expand infrastructure, mainly railways, to boost competitiveness and regional integration.
Israel’s military fired warning shots at a convoy of diplomats from the EU, UK, China, Russia, and others who deviated from an approved route in
Tajikistan and Kyrgyzstan have for the first time been listed as countries at risk of food insecurity by the annual Global Report on Food Crises, produced
The EU and UK have approved further sanctions on Russia, targeting its shadow fleet of shipping vessels, financial sector, and military. However, US Secretary of
Vietnam’s Trade Minister led a delegation to court US investment in LNG, aerospace, and green tech. SpaceX committed to build 10–15 ground stations and invest
Nepal’s foreign trade rose 18.4% YoY to Rs 1.692 trn in the first 10 months of FY2024/25, but the trade deficit widened to Rs 1.256
Bank Indonesia cut its policy rate by 25 bps to 5.5% at its May meeting, citing stable inflation and a strengthening rupiah. April inflation accelerated